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Old 07-17-2019, 12:00 AM   #1
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% Off of list, whats realistic?

I have made a few offers and want to get a sense from people on the West Coast whats realistic with the market we have now. I am looking mainly sedans and pilothouse designs. 1990 and newer. If you have made offers recently where did you initially offer off list (by percentage). Most of the boats I am focusing are between 140-160k however I have found a boat that really captures my attention at 239k. My budget was originally set for 140k and I'd like to be close to that but understand just like with boats my budget might need a bit of a compromise to achieve what I am looking for.
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Old 07-17-2019, 12:45 AM   #2
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I think it depends a lot on the condition if the boat, especially one that is 20-30 years old. Also, are there other boats of the same model out there, or is this a unique boat (of so, much harder to price). The other factor that is very important is the motivation of the seller. Try to find out how long it has been on the market and what other motivations there might be. That said, if you have a budget, you have a budget. Don’t go over significantly because you “fell in love” with a boat unless you are 110% sure you are getting a very good price given all other factors. Finally, once you do make an offer that is accepted, get a thorough and complete survey, including engines unless they are very new, and don’t be afraid to negotiate if there are significant problems that crop up.
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Old 07-17-2019, 02:50 AM   #3
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It doesn't matter what the X% off the asking price is. Offer a price you are comfortable paying. If the seller takes it, good for you. If the offer is rejected find another boat. Life is too short to get wound up in how much off the asking price you should offer. Plenty of other boats for sale.

80K over your original budget (~30%) is a big jump. If you manage the extra 80K, are you going to have sufficient funds to actually operate the boat you buy?

If you really only have 160K to spend on a boat, spending lots more is not going to end well.
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Old 07-17-2019, 05:24 AM   #4
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% off list is realistic when discussing new cars , boats or motor homes where a manufacturer sets a price , and the dealer pays 25-40% less.

When a boat owner sets a price he usually searches the local market to see what other folks are selling for.
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Old 07-17-2019, 05:40 AM   #5
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Note also that many boats listed for sale are not seriously for sale. They list it at price way above market, and figure if someone bites at that price, they will in fact sell it. And maybe at a profit.

Production boats are easier as there is a track record for each model and year. But I think the published sales prices may be fudged a bit, but not 100% on that. Others more knowledgeable might confirm.

You do your best to do comparisons and price shopping, but ultimately it comes down to what you and the seller can agree on as "fair".

Sometimes there are real deals that pop up, especially with a seller facing unfortunate circumstances. When one of those pops up, you have to jump FAST.
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Old 07-17-2019, 06:23 AM   #6
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Offer what you can afford. You never know the buyer's circumstances and how long it's been on the market. The worst they can say is no.

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Old 07-17-2019, 06:40 AM   #7
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IMO there is no hard and fast rule for a discount. Some folks price their boats high and then factor in a large discount. Others price their boats right and will give a tiny discount or maybe fix a few items from the survey.
Lastly, there are some boats which are priced to sell. These folks have underpriced their boat and will expect full asking price.

My Silverton was in the first category. The guy had it priced high. I offered $20k less and he accepted. Easy. Done.
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Old 07-17-2019, 06:44 AM   #8
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I don't think % off works as some boats are reasonably price while many boats are not.

I think this might be another example of where a buyer broker would be extremely helpful. He/she should be able to give you a value of what a boat in average condition is worth. They (or you) could then add or subtract specific items for a specific boat.

Many folks have no realistic idea what their boat is worth. The do not listen to their selling broker and tell them I want to sell my boat for X dollars. I know my boat is worth more than other boats on the market because I installed new electronics in 2005 or replaced the 30 year old head 5 years ago. They then see other crazy asking prices (on boats that lanquish on the market for a long time) and based their price on these prices instead of the more realistic value of their boat.

I like looking at Moreboats.com as you can see how long a boat has been on the market and if there has been a reduction from the original prices. It helps serve as another piece in the pricing puzzle.

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Old 07-17-2019, 07:01 AM   #9
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don't care what the ask is.


Offer 20-40% off if you think that's fair.


explain how you reached that offer and what it will cost to fix certain things, the seller knows it.


I looked at boat for 260K offered 175K seller declined a year later he sold it for 180K


Another was 210, offered 155, seller accepted but survey was not so good


just throw the number out there, the worst that happens is he says no
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Old 07-17-2019, 08:23 AM   #10
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For what itís worth, I just put in an offer at 85% of asking price on a boat that I felt was already very reasonably priced. I figured weíd haggle back and forth a bit, but the seller agreed on the first offer. Sheís one of a kind, so I didnít have a track record to go on. She was on the market for over a year on the Great Lakes.
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Old 07-17-2019, 08:38 AM   #11
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It amazes me all of the wrangling people do over the price of boats. "list price", "market price", MSRP, "assessed value", and on and on......

What is the boat worth TO YOU? If others are willing to pay more, so be it. Wouldn't you be upset if you paid more than you had to?

Ignore the "asking price". What is the boat worth to you, and your family, and your recreational enjoyment?

If it is the type of boat you want, offer what it is worth TO YOU. There is no "market" price if the seller is willing to sell it at the price it is worth TO YOU.
Why should you bypass a boat you want because the asking price is higher than what it is worth to you? How do you know the seller wouldn't be willing to sell it at the price it is worth TO YOU? Don't pass it by! ASK!!! What have you got to lose?

I have bought boats at 40% below the asking price and I have also been summarily laughed out of a yard for some other offers. In the end, by offering a price that the boat(s) were worth it to ME and MY particular situation at the time and MY perceived enjoyment, I knew I had done what was right FOR ME. If others perceived more value at that time in the seller's life, then oh well. No worse off for wear...

STOP the hand wringing, get over it......."just do it"

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Old 07-17-2019, 09:16 AM   #12
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Quote:
Originally Posted by bshillam View Post
I have made a few offers and want to get a sense from people on the West Coast whats realistic with the market we have now. I am looking mainly sedans and pilothouse designs. 1990 and newer. If you have made offers recently where did you initially offer off list (by percentage). Most of the boats I am focusing are between 140-160k however I have found a boat that really captures my attention at 239k. My budget was originally set for 140k and I'd like to be close to that but understand just like with boats my budget might need a bit of a compromise to achieve what I am looking for.
You're located in Portland Or so I'm going to assume your market is similar to the Puget Sound market. In serious conversation with a local broker I was advised to offer 15% - 20% below asking. In conversation with a California broker he remarked that PNW asking prices seem far too high and it takes a long time to sell a boat up here.

I'm moving through the process now on a boat that started at $90K asking, seller rejected an offer of $80K a year ago. After it sat for the year asking was reduced to $80K and my offer of $70K was accepted. We're now renegotiating based on issues found during survey.
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Old 07-17-2019, 09:30 AM   #13
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I keep hearing the stories where an offer was rejected and the boat sat for like another year. The costs of upkeep (or the decay from NO upkeep!), depreciation, dockage, insurance, etc. And then a year later they accept an even lower offer. Expensive game to play!!
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Old 07-17-2019, 09:35 AM   #14
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DO NOT get emotionally hooked on a boat.If it is priced too high and the seller won't come down to what you are willing to pay, walk away. There are others waiting for you.
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Old 07-17-2019, 09:45 AM   #15
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I keep hearing the stories where an offer was rejected and the boat sat for like another year. The costs of upkeep (or the decay from NO upkeep!), depreciation, dockage, insurance, etc. And then a year later they accept an even lower offer. Expensive game to play!!

Yes it is a very expensive game to play. Especially in the price range the OP is in implying older boats. I know the details of one such slow sale where the difference between the original asking and final sales price 3 yrs later was just about the same as the cost of ownership for those 3 yrs.
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Old 07-17-2019, 10:57 AM   #16
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Also depends on how bad you want the specific boat, how long you've been looking and if there are other examples of the boat for sale.

If the boat you are looking at is exactly what you want, in good condition, equipped well, modern electronics, priced reasonably, and recently listed, you don't want to piss off the seller so you will make an offer closer to asking.

On the other hand, if you are looking at a boat that does'nt match your search criteria 100%, needs work, has been for sale longer and is among several boats you are considering, a low ball offer might be accepted or countered.
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Old 07-17-2019, 11:03 AM   #17
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There is no formula. Mostly because the seller didn't use a formula to arrive at their sell price.. Most sellers set the sell price based on what they have into the boat, or their perceived value. This is rarely a realistic valuation.

Offer what you believe to be the fair market value for the boat.
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Old 07-17-2019, 11:25 AM   #18
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All good feedback!

This is the kind of feedback I have been needing. Although my offers havenít been for list I have reviewed the sold data and made offers in line with the previous sales in the PNW. Some sellers have decided that their boat was worth more. And thatís ok. Itís not my last boat so I am approaching it with reservation as my plan is to sell in 5-10 yrs and get the retirement boat then.

I am also not approaching it with much emotion as itís going to be used in my business. Looking at it as more a business use item until we are successful in negotiations.

Thanks for the time and honest feedback!
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Old 07-17-2019, 12:10 PM   #19
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About eight years ago, we looked at a wood DeFever 54 that had just dropped the price from $219K to $179K. Pretty substantial drop. I had already seen the boat on Yachtworld months earlier at $239K. Even though it was still over our budget we decided to take a look. While inspecting the vessel the broker informed us that it had just sold, but did not pass the buyer's survey (due to some above the waterline wood issues), and that he knew we could get the boat for $139K. Six months later our friends bought the boat for $90K...
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Old 07-17-2019, 12:18 PM   #20
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About eight years ago, we looked at a wood DeFever 54 that had just dropped the price from $219K to $179K. Pretty substantial drop. I had already seen the boat on Yachtworld months earlier at $239K. Even though it was still over our budget we decided to take a look. While inspecting the vessel the broker informed us that it had just sold, but did not pass the buyer's survey (due to some above the waterline wood issues), and that he knew we could get the boat for $139K. Six months later our friends bought the boat for $90K...
Great story - patients pays off for sure! Sometimes just the way we intend and in other ways opens new doors we didnít know about.
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